What? What?
There was no mention of cars in the recent budget and I knew it. probably because the outdated Excise and Service Tax is soon to be replaced by the goods and Service Tax (GST) which is to come by July this year.
However announcements could have been made to boost the sale of Hybrid and electric Vehicles under the FAME ( Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme which is still to be reviewed.
The demonetisation has led to decrease in the sales of automobiles and I could expect the government to take some steps to increase vehicle sales. Also it can continue to allot cheaper tax rates to companies on R&D activities so that they can work on better outcomes.
There was no mention of cars in the recent budget and I knew it. probably because the outdated Excise and Service Tax is soon to be replaced by the goods and Service Tax (GST) which is to come by July this year.
However announcements could have been made to boost the sale of Hybrid and electric Vehicles under the FAME ( Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme which is still to be reviewed.
The demonetisation has led to decrease in the sales of automobiles and I could expect the government to take some steps to increase vehicle sales. Also it can continue to allot cheaper tax rates to companies on R&D activities so that they can work on better outcomes.
No comments:
Post a Comment